Suntrust Banks Inc. cut its stake in shares of Cintas Co. (NASDAQ:CTAS) by 13.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,036 shares of the business services provider’s stock after selling 470 shares during the period. Suntrust Banks Inc.’s holdings in Cintas were worth $510,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Nelson Roberts Investment Advisors LLC purchased a new position in Cintas in the fourth quarter worth approximately $25,000. Lindbrook Capital LLC purchased a new position in Cintas in the fourth quarter worth approximately $105,000. ETF Managers Group LLC lifted its stake in Cintas by 18.2% in the fourth quarter. ETF Managers Group LLC now owns 778 shares of the business services provider’s stock worth $131,000 after acquiring an additional 120 shares during the last quarter. Truehand Inc purchased a new position in Cintas in the fourth quarter worth approximately $168,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Cintas by 99.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,105 shares of the business services provider’s stock worth $186,000 after acquiring an additional 551 shares during the last quarter. Institutional investors and hedge funds own 67.04% of the company’s stock.
CTAS stock traded up $2.40 on Wednesday, hitting $215.80. The company’s stock had a trading volume of 475,400 shares, compared to its average volume of 489,995. Cintas Co. has a 1 year low of $155.98 and a 1 year high of $217.34. The company has a market cap of $22.29 billion, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 2.35 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.24 and a quick ratio of 1.89.
CTAS has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of Cintas from $163.00 to $172.00 and gave the stock an “underweight” rating in a research note on Friday, March 22nd. Zacks Investment Research downgraded shares of Cintas from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. BidaskClub downgraded shares of Cintas from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and set a $166.50 price objective for the company in a research report on Thursday, January 3rd. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cintas from $210.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $194.45.
In other Cintas news, insider Michael Lawrence Thompson sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $200.60, for a total value of $200,600.00. Following the transaction, the insider now directly owns 64,165 shares of the company’s stock, valued at approximately $12,871,499. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald W. Tysoe sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $201.64, for a total transaction of $604,920.00. Following the completion of the transaction, the director now directly owns 5,667 shares in the company, valued at $1,142,693.88. The disclosure for this sale can be found here. Insiders sold a total of 8,155 shares of company stock worth $1,658,496 over the last three months. 19.10% of the stock is currently owned by corporate insiders.
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Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, and carpet and tile cleaning services, as well as sells uniforms directly.
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